(WASHINGTON) — Twelve policymakers at the Federal Reserve are set to take a high-stakes vote this week on the nation’s benchmark interest rate, attempting to steer the economy through a stormy bout of slow hiring and rising inflation.
In a highly unusual circumstance, however, two of the policymakers stand in limbo – uncertain if they will vote at all – with little more than 48 hours before the announcement.
In recent weeks, President Donald Trump has moved to fire one member of the Fed’s board of governors and secure Senate confirmation for another. The race to reshape the Fed comes after Trump railed for months against the central bank and its Chair Jerome Powell for declining to heed his call for lower interest rates.
The clash over the composition of the Fed board casts uncertainty